TE Connectivity Ltd. (NYSE:TEL) Shares Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC boosted its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 7.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 36,014 shares of the electronics maker’s stock after purchasing an additional 2,498 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in TE Connectivity were worth $5,149,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. abrdn plc acquired a new position in shares of TE Connectivity in the fourth quarter worth about $15,739,000. Truist Financial Corp raised its position in shares of TE Connectivity by 32.8% in the fourth quarter. Truist Financial Corp now owns 129,461 shares of the electronics maker’s stock worth $18,509,000 after acquiring an additional 31,991 shares during the period. Steward Partners Investment Advisory LLC increased its stake in shares of TE Connectivity by 14.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,634 shares of the electronics maker’s stock worth $949,000 after purchasing an additional 841 shares in the last quarter. Venturi Wealth Management LLC increased its stake in shares of TE Connectivity by 80.6% during the fourth quarter. Venturi Wealth Management LLC now owns 11,821 shares of the electronics maker’s stock worth $1,690,000 after purchasing an additional 5,274 shares in the last quarter. Finally, Walter & Keenan Wealth Management LLC IN ADV purchased a new stake in TE Connectivity during the 4th quarter valued at about $243,000. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at TE Connectivity

In other TE Connectivity news, EVP John S. Jenkins sold 30,000 shares of TE Connectivity stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $149.39, for a total value of $4,481,700.00. Following the completion of the sale, the executive vice president now directly owns 24,625 shares of the company’s stock, valued at approximately $3,678,728.75. The trade was a 54.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Heath A. Mitts sold 37,844 shares of the business’s stock in a transaction on Friday, May 9th. The shares were sold at an average price of $153.33, for a total transaction of $5,802,620.52. Following the sale, the chief financial officer now directly owns 45,503 shares of the company’s stock, valued at $6,976,974.99. This represents a 45.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 149,675 shares of company stock valued at $23,393,309 in the last ninety days. Corporate insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TEL. Robert W. Baird raised their price target on shares of TE Connectivity from $147.00 to $153.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Citigroup cut their price target on shares of TE Connectivity from $165.00 to $142.00 and set a “neutral” rating for the company in a report on Monday, April 14th. UBS Group raised their price target on shares of TE Connectivity from $163.00 to $185.00 and gave the stock a “buy” rating in a report on Friday. Wells Fargo & Company increased their price objective on shares of TE Connectivity from $148.00 to $156.00 and gave the stock an “equal weight” rating in a research report on Monday, May 19th. Finally, Hsbc Global Res raised shares of TE Connectivity from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 24th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $162.50.

TE Connectivity Price Performance

Shares of NYSE:TEL opened at $159.88 on Tuesday. The company has a 50-day moving average price of $144.99 and a 200 day moving average price of $147.18. TE Connectivity Ltd. has a 52 week low of $116.30 and a 52 week high of $164.11. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The company has a market cap of $47.41 billion, a P/E ratio of 25.54, a PEG ratio of 2.11 and a beta of 1.24.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.14. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $3.97 billion. During the same period last year, the firm earned $1.86 EPS. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. Research analysts predict that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.78%. This is a boost from TE Connectivity’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Wednesday, May 21st. TE Connectivity’s dividend payout ratio (DPR) is 62.42%.

TE Connectivity Company Profile

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensor solutions in Europe, the Middle East, Africa, the AsiaPacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.